Tesla Inc. (NASDAQ:TSLA) has been given a $265.00 price objective by stock analysts at Sanford C. Bernstein in a note issued to investors on Thursday, July 27th. The firm currently has a “neutral” rating on the electric vehicle producer’s stock. Sanford C. Bernstein’s price objective would indicate a potential downside of 26.86% from the stock’s previous close.
A number of other research firms also recently commented on TSLA. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price objective for the company in a research note on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) set a $180.00 target price on shares of Tesla and gave the company a “sell” rating in a research note on Friday, June 30th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $305.00 target price on shares of Tesla in a research note on Monday, June 12th. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $310.34.
Tesla (TSLA) traded up 0.29% during mid-day trading on Thursday, reaching $363.38. The company had a trading volume of 2,761,504 shares. The stock’s market cap is $60.64 billion. The firm’s 50-day moving average price is $340.14 and its 200-day moving average price is $309.43. Tesla has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted ($1.06) EPS. The company’s quarterly revenue was up 119.6% on a year-over-year basis. Equities research analysts forecast that Tesla will post ($6.34) EPS for the current fiscal year.
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In related news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $61,095,179.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.10% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in TSLA. Public Employees Retirement System of Ohio boosted its stake in shares of Tesla by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 88,250 shares of the electric vehicle producer’s stock worth $31,912,000 after buying an additional 6,895 shares during the last quarter. Covington Capital Management raised its stake in Tesla by 18.3% in the second quarter. Covington Capital Management now owns 1,293 shares of the electric vehicle producer’s stock worth $468,000 after buying an additional 200 shares during the period. Colony Group LLC purchased a new stake in Tesla during the second quarter worth $255,000. Arcus Capital Partners LLC purchased a new stake in Tesla during the second quarter worth $203,000. Finally, Piedmont Investment Advisors LLC raised its stake in Tesla by 5.4% in the second quarter. Piedmont Investment Advisors LLC now owns 27,403 shares of the electric vehicle producer’s stock worth $9,909,000 after buying an additional 1,397 shares during the period. Institutional investors own 62.92% of the company’s stock.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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